LIVE: Sensex falls over 100 points in a choppy trade, Nifty50 below 7,770; Suven Life Sciences up over 2%

11.43 am:Sensex was trading 104.15 points down at 25,519.20. NSE Nifty was trading 25.10 points down at 7,766.20. Wipro shares were down 0.53 per cent at Rs 555.00 after India’s third-largest software firm reshuffled its top management, appointing Abid Ali Neemuchwala as the new chief executive in place of T K Kurien, who has been elevated as executive vice chairman.

11.23 am: MBL Infrastructures shares were trading 1.53 per cent down at Rs 219.50 even after it bagged two projects aggregating to Rs 609.12 crore. Sensex was down 59.23 points at 25,564.12. NSE Nifty was down 21.65 points at 7,769.65.

10.51 am: MOIL shares were trading 1.24 per cent up at Rs 216 after it slashed prices of various grades of manganese ore by up to 10 per cent for the January-March quarter. Sensex was trading 18.98 points down at 25,604.37.

10.24 am: Suven Life Sciences shares were trading 2.55 per cent up at Rs 267.15 after the company announced grant of three product Patents in Canada, ARIPO and South Korea corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2030. Sensex was trading 74.74 points up at 25,698.09. NSE Nifty was gained 26 points at 7,817.30.

10.07 am: The Indian rupee recovered from a two-week low by rising 15 paise to 66.46 against the dollar at the Interbank Foreign Exchange in early trade on fresh selling of the US currency by banks and exporters. Sensex was trading 34.96 points up at 25,658.31. NSE Nifty was trading 9.65 points up at 7,800.95.

9.54 am:Welspun Corp was trading 2.77 per cent down at Rs 106.95 after the company on Monday said it has received tax demand notice of Rs 100 crore in respect of a manufacturing unit in Anjar, Gujarat. Sensex was trading 30.75 points down at 25,592.60. Nifty was trading 5.15 points down at 7,786.15.

9.38 am:Videocon Industries was trading 0.87 per cent up at Rs 121.80 after it said that it has restructured its $194.4 million foreign currency convertible bonds (FCCBs) by repaying half the amount in cash and redeeming the rest in new five-year bonds at lower cost. Sensex gave up initial gains of 100 points and was trading 20.64 points up at 25,643.99. Nifty was trading 14.10 points up at 7,805.40.

9.23 am: SITI Cable Network Ltd was trading 12.50 per cent up at Rs 41.40 after the Reserve Bank allowed foreign investors to buy up to 49 per cent stake in SITI Cable Network. Sensex was trading 97.76 points up at 25,721.11. Nifty50 was trading 36.75 points up at 7,828.05.

9.15 am: The BSE Sensex opened over 100 points up on Tuesday on value-buying in select blue-chips amid a firming trend at other Asian bourses. Besides, covering-up of short positions by speculators supported the recovery. Sensex was trading 113.12 points up at 25,736.47. Nifty50 was trading 34.90 points up at 7,826.20.

Among other Asian markets, Shanghai Composite index was up 0.33 per cent, while Japan’s Nikkei rose 0.41 per cent in early trade today. Hong Kong’s Hang Seng index was also trading a shade higher.

8.40 am: The BSE Sensex and NSE Nifty are likely to rebound open in positive terrain on Tuesday tracking SGX Nifty and mixed global markets.

At 7.50 am, SGX Nifty was up 27.00 points, or 0.34 per cent, at 7,829.00

After Monday’s bloodbath, wherein BSE Sensex and NSE Nifty fell over 2 per cent on Monday amid concerns over slowdown in China and escalating tension in the Middle East, the stocks markets are expected to make some recovery. The BSE Sensex plunged by 537.55 points to crack below the 26,000-mark and NSE Nifty fell below the 7,800-mark by losing 171.90 points or 2.16 per cent to 7,791.30 on Monday.

Asian share markets were on the ropes for a second straight session on Tuesday as investors waited anxiously to see if Beijing can head off the latest selling stampede in Chinese stocks.

At 7:56 am, Hang Seng traded 5.23 points or 0.02 per cent down, at 21321.89, while Nikkei traded 48.21 points or 0.26 per cent up at 18,499.19.

US stocks began 2016 sharply lower on Monday, with the Dow marking its worst start to a year since 2008, after weak Chinese economic data fanned fears of a global slowdown. Indexes partly recovered late in the session, following a turnaround in oil prices that caused energy shares to cut losses.

At its low for the day, the Dow was down 467 points and was headed for its worst first-day percentage drop since 1932.

Stocks of Wipro will be in focus on Tuesday as India’s third-largest software firm on Monday reshuffled its top management, appointing Abid Ali Neemuchwala as the new chief executive in place of T K Kurien,
who has been elevated as executive vice chairman.

Videocon Industries will also be in limelight as the diversified industrial house has restructured its $194.4 million foreign currency convertible bonds (FCCBs) by repaying half the amount in cash and redeeming the rest in new five-year bonds at lower cost.